Property Tax Solutions

Property Tax Solutions

Property Value Averaging is one place to start.

Each municipality is responsible for not exceeding budgetary levels beyond the taxpayer’s approval. Much of new major expenses should be decided at the voting booth in each municipality.

However the idea that wealthier communities send more funds to Trenton then less prosperous communities is not a way of lowering taxes in fact it is discriminatory and a formula for waste. Property taxes should be determined on an average of land and structure value, the word is average. Each Business, Homeowner or Landowner must bear the burden of tax increases by challenging their Municipal budgets and state wide costs for labor and services including teachers’ salaries, structural additions and administration costs. Everyone must pay their fair share no matter where the property is located.

A NJ Department of Treasury State Account should be established for an aggressive property rebate program. This account should be funded by cutting waste and bloated deficits on state programs and services. Full budgetary transparency should be supported. The rebates standard should be set proportionately and based on existing taxes levels in each municipality low to high with rebates staring at $1,000.00 through to $2,000.00 yearly. Rebate reductions or increases would apply when increases or decreases occur on the municipal level, leaving the decision in the hands of the property taxpayers.

I also like the Alaska dividend reimbursement model that invests a percentage of its funds in stocks and mutual funds then passes those profits back to the taxpayers at a whopping $3,500 – $4,500.00 as a yearly rebate.  In New Jerseys’ case, to curb property taxes.

The Pro-Active “Contract With 37” Team believes there are unlimited financially creative methods to lower property taxes that continue to be ignored by a Democratic Governor and State Legislators.

The team will work tirelessly in the Legislature to draft a solution and solve this problem.

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